The Process of Buying a Home in Lake Wales, FL

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Exploring Lake Wales, FL From North to South

Strongly considering a home purchase in Lake Wales? Great idea! You picked a vibrant city with a great balance of parks, businesses, and educational opportunities, and we're here to help the home purchase process go a little smoother. We service 3.8 million customers across the country and know the Lake Wales housing market well.

Lake Wales's amazing growth has made it a great place to live. But on the flip side, the growth has also led to a shortage of cheaper homes. Continued cultural expansion and economic growth have helped to entice entrepreneurs, retirees, and new graduates to the Lake Wales area, but that much change also highlights the need for better infrastructure, larger schools, and a more diverse housing market. Even so, Lake Wales and its neighboring areas still offer an array of homes in price and amenities. You can find townhomes, condos, single-family homes, duplexes, and (ideally) your dream house! When looking to buy a house in Lake Wales, consider the home's location in relation to your everyday activities. If you can, drive the route you'd take from the house to your school, office, and favorite hangout spot. Your home's location will influence almost every aspect of your life. Discovering different parts of Lake Wales will help you see how the northern part differs from the southern part, what the neighborhoods are like, and where to find Lake Wales's hottest attractions.

Are your finances in the right place to buy a home in Lake Wales? Contact a Mr. Cooper Mortgage Professional if you're unsure of your answer. We believe everyone can find their dream home and try our best to make the journey easier and more rewarding. It doesn't matter whether you want to buy a home in Florida or somewhere else entirely. We serve first-time homeowners and experienced homeowners alike. Read through the following steps to help you figure out if your finances are in the right place to buy a house in Lake Wales.

Before anything else, calculate how much house you can afford. This will help you set a price range while house shopping in Lake Wales. After that, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Lake Wales will usually point you in the right direction. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Next, consider how much you can contribute to a down payment. A down payment of at least 20% can help boost your chances of getting a great rate and will allow you to avoid private mortgage insurance (PMI). Even so, the minimum down payment requirements depend on the type of loan. Here's where it can help to get prequalified for a mortgage. Getting prequalified will give you an idea of how much you might qualify to borrow. Also, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. The better your credit is, the more mortgage options you may be presented with— and who doesn't want more choices in life?

Move Up and Out: Buying Your Dream House in Lake Wales, FL

Moving remains one of the biggest stressors, despite being a practically universal experience. But moving feels more rewarding when you get to live in a place like Lake Wales. Contact Mr. Cooper as you prepare to buy a house in Lake Wales. We're here to help you along the way and Mr. Cooper® Real Estate Rewards can even connect you with a high-performing real estate agent who may be able to help you save thousands.*

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